Your weekly re/insurance round-up, ending October 13th 2023

With Q3/9M 2023 result announcements around the corner, some carriers, including Intact, announced estimated catastrophe losses.?

Much of the insurer's losses were in Canada, which?has seen insured losses of more than $3 billion in 2023.

M&A, launches, and hires were also a feature of this week's news, including Allianz's takeover of Tua Assicurazioni.

Ukraine activated a new data platform, supported by Marsh McLennan, as?Fidelis MGU and Castlelake?announced a new aviation-focused MGA, and?Xceedance revealed its offering of on-demand catastrophe modelling resources.

In terms of hires, moves were announced at Mercer, SIGNAL IDUNA Reinsurance, AIG, WTW, Liberty Mutual Re, Inver Re, and AXA Climate.

This week saw Bermuda host its annual Convergence event, during which the island's dominance in ILS?was highlighted, alongside a discussion around risk modeling.

Elsewhere, Saudi Re is raising new capital via the issuance of new shares that will be purchased by Saudi Arabia’s PIF.?

Swiss Re was also in the news this week, highlighting a digital revolution within the industry. Ahead of the firm's 9M results, analysts discussed the reinsurer's casualty reserves.

Reinsurance broker Gallagher Re released a report around “cyber catastrophe” risk.?

It was also revealed that?Slide Insurance?has acquired renewal rights for 86,000 Florida homeowners insurance policies from Farmers Insurance.

Finally, according to?Insuramore, reinsurance premiums assumed worldwide amounted to a value of around USD $500 billion in 2022.

We’ll continue to update you with more coverage on the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!